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DETROIT— A Detroit- based automotive financial services company announced Tuesday its headquarters will remain in the city's resurgent downtown rather than move to the suburbs. The move comes about three months after the city of Detroit restructured or erased $7 billion in debt through the largest municipal bankruptcy in U.S. history.

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WASHINGTON, March 26- Russia's $3 billion holding of Ukrainian debt should be classified as' official' debt, an IMF spokesman said on Thursday, weighing in on what has become a contentious issue in Kiev's economic situation. But Russia, which holds a $3 billion Eurobond from Ukraine, has so far refused to participate in the restructuring. Russia, which Western...

LONDON, March 24- Ukraine's debt burden cannot be restructured by just extending the maturity of its bonds, and creditors are unlikely to benefit if they "hold out" to maximize payments, Finance Minister Natalia Yaresko said on Tuesday. After a year of war and political upheaval that has seen its currency plummet and sent its economy into a tailspin, Ukraine agreed...

Mark Welch, chief restructuring officer of Freedom Industries, entered the plea on behalf of the company in federal court to negligent discharge of a pollutant and unlawful discharge of refuse matter, both misdemeanors, and violating a permit condition under the Clean Water Act, a felony. Thousands of gallons of a coal-cleaning agent from Freedom Industries...

SHANGHAI, March 23- Laden with debt and struggling to make money as the world's No.2 economy loses momentum, China's steel mills do not appear obvious candidates for overseas expansion. In a draft of a revised restructuring plan for the industry issued late last week, Beijing included a line saying it would support mills' efforts to buy assets abroad, with...

Chinese property developer Kaisa Group, illustrates the challenges for investors holding uninsured corporate debt: Kaisa is trying to restructure 48 billion yuan of debt and is mired in crisis after the local government in its home base of Shenzhen blocked sales at some of its projects last year, leaving investors shell-shocked. A debt restructuring plan...

NEW YORK, March 22- Government bond issuers are adopting new standards intended to thwart a strategy that's plagued Argentina for 13 years, in which buyers snap up distressed debt for pennies on the dollar and then hold out for full payment after other investors have agreed to restructure. Driving the move to change is the situation in Argentina, lawyers and...

LONDON, March 20- Greek government bond yields fell on Friday, after Prime Minister Alexis Tsipras assured European Union creditors that he would soon present a full set of economic reforms to unlock cash and stave off bankruptcy. The joint statement by the EU institutions spoke of a "spirit of mutual trust," but German Chancellor Angela Merkel stressed no money...

March 19- Canada's Bank of Nova Scotia sued Cliffs Natural Resources Inc, saying the U.S. iron ore miner had breached terms of a loan agreement when it filed for creditor protection for its Canadian operations. Cliffs in January stopped production at its Bloom Lake mine in Quebec, where costs exceeded expectations, and started restructuring the Canadian...

NEW YORK, March 18- Bankrupt wireless venture LightSquared has filed a new restructuring plan that would pay the full $1.5 billion claim of its largest creditor, Dish Network Corp Chairman Charles Ergen, in cash, with interest. The plan, filed late on Tuesday and outlined on Wednesday morning in court papers in U.S. Bankruptcy Court in Manhattan, depends on $1.515...

MINNEAPOLIS— General Mills says that it has completed a plan to eliminate about 800 positions. General Mills said that the previously announced job cuts, which were mostly in the U.S., were part of a restructuring plan called Project Catalyst that was approved during its fiscal second quarter. As part of that plan, General Mills is reducing its refrigerated dough...

March 18- Casino company Caesars Entertainment Corp, whose operating unit is in bankruptcy, warned on Monday that the litigation stemming from its restructuring efforts could hamper its ability to continue operating as a going concern. Creditors have brought numerous lawsuits alleging fraud over transfers of assets out of the operating unit, Caesars...

NEW YORK, March 17- Cerberus Capital Management and Solus Alternative Asset Management on Tuesday proposed a new plan to restructure bankrupt wireless venture LightSquared, with the support of billionaire Charles Ergen, LightSquared's largest lender. The plan is designed to compete with a LightSquared-backed one whose fairness is the subject of an...

PARIS, March 12- Greece is turning to the OECD group of industrialised nations to help reform its economy, but Prime Minister Alexis Tsipras says his country will still have to restructure its debt to overcome its woes. Greece signed an agreement with the Organisation for Economic Co-operation and Development on Thursday aimed at helping Athens carry out a...

BEIJING, March 12- China's central bank governor on Thursday signalled that Beijing is comfortable with the current macroeconomic environment and plans to stick with its "prudent" monetary policy. Both are seen as key reforms needed for the wider restructuring of China's economy and a move away from miscalculated and mispriced investment.

LONDON, March 11- Ukraine, seeking to plug a $15 billion- plus funding gap via debt restructuring, may find that a multi-year payment moratorium does the trick, with investors possibly having to swallow a smaller eventual writedown than feared. The country has received the nod from the International Monetary Fund for a $17.5 billion loan package, and the fund...

LONDON, March 11- Ukraine, seeking to plug a $15 billion- plus funding gap via debt restructuring, may find that a multi-year payment moratorium does the trick, with investors possibly having to swallow a smaller eventual writedown than feared. The country is expected to get the nod from the International Monetary Fund later on Wednesday for a $17.5 billion loan...

HONG KONG, March 11- Some of developer Kaisa Group's bondholders are pushing for better debt restructuring terms, such as a guarantee for their bonds from Sunac China which has proposed a takeover of its rival, sources familiar with the matter said. This week, Kaisa unveiled a plan for $2.5 billion of its offshore and convertible debt, under which the maturity on...

Loretta Moseman and Joe Bonocore will serve as interim co-heads for Citi's treasury as the company conducts a search for a successor, Citigroup CFO John Gerspach said in an internal memo seen by Reuters. Aboaf has been a key figure in financing Citi and is familiar to institutional investors who buy Citi's debt. Aboaf restructured Citi's balance sheet to...

HONG KONG, March 9- A debt restructuring plan put forward by Chinese developer Kaisa Group Ltd has steered away from a doomsday scenario for creditors painted in an earlier report, offering an implied haircut that is severe but not too far off current market prices. Mired in crisis after the local government in its home base of Shenzhen blocked sales at some of its...

HONG KONG, March 9- Chinese property developer Kaisa Group Ltd has proposed cutting the interest and extending the maturities of its offshore bonds in a critical debt restructuring plan it needs to get creditors to agree to or risk defaulting on payments. Kaisa, mired in crisis after the local government in its home base of Shenzhen blocked sales at some of its...